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Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending

Laker Company reported the following January purchases and sales data for its only product. The Company uses a perpetual inventory system. For specific identification, ending inventory consists of 385 units from the January 30 purchase, 5 units from the January 20 purchase, and 25 units from beginning inventory.

Date Activities Units Acquired at Cost Units sold at Retail
January 1 Beginning inventory 235 units @ $ 16.00 = $ 3,760
January 10 Sales 185 units @ $ 25.00
January 20 Purchase 180 units @ $ 15.00 = 2,700
January 25 Sales 200 units @ $ 25.00
January 30 Purchase 385 units @ $ 13.00 = 5,005
Totals 800 units $ 11,465 385 units

Required: 1. Complete the table to determine the cost assigned to ending inventory and cost of goods sold using specific identification. 2. Determine the cost assigned to ending inventory and to cost of goods sold using weighted average. 3. Determine the cost assigned to ending inventory and to cost of goods sold using FIFO. 4. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.

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